This compound is primarily used in organic synthesis and medicinal chemistry as a building block for the creation of more complex molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it serves as a boronic acid reagent to form carbon-carbon bonds, enabling the synthesis of biaryl compounds. These reactions are crucial in the development of pharmaceuticals, agrochemicals, and advanced materials, including polymers with specific properties. The presence of both the boronic acid and carboxymethyl groups provides good water solubility and stability, enhancing its utility in various applications. Additionally, it is employed in the preparation of sensors and probes due to its ability to interact with diols and sugars, making it useful in biochemical and diagnostic applications. Its carboxymethyl group further enhances its versatility by allowing for additional functionalization or conjugation with other molecules.